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In This Issue |
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Note from the CEO |
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 Dear Members:
Corporate One has had a strong 2010. Our unaudited financials through November show that your Corporate One has a solid financial foundation and a strong business model. First, and most importantly, we have not lost any of our member capital shares. We further strengthened our corporate by positioning you, our members, well from a retained earnings and capital perspective. We’ve made $11.6 million in net income through November, 30, 2010, which has enabled us to grow to $35 million in reserves and undivided earnings (RUDE). READ MORE + |
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 Feature Article
Operations year in review
By: Marcus Wannemacher, VP, Operations
Over the years, Corporate One has hosted a variety of in-person events, conferences and trainings. As current economic conditions have led to a cutback in travel and conference budgets, we have also adjusted our methods of member outreach to ensure our members have the educational and product support they desire. As a result, we have turned our attention to complimentary web-based, on-demand trainings. READ MORE + |
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 Product News |
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Securities investments double in 2010
Year-end numbers to reach more than $1 billion in securities sales
By: Bob Post, Chief Investment Officer
Corporate One’s Investments department has had a banner year. Having trusted investment solutions is vital for our member credit unions, and our members look to us to provide them diversified investment solutions to manage their cash effectively. A critical component in our success this year was forging a strategic alliance in March with Multi-Bank Securities, Inc. (MBS) to act as our new broker/dealer. Another factor in our success was the consistently strong SimpliCD program. READ MORE + |
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ATM/debit solution “paying off” for newly converted credit unions
Participating credit unions have earned nearly $15,000 in rewards this fall
When Corporate One partnered with PSCU Financial Services to offer a comprehensive ATM/debit and credit program to credit unions, we knew we had a valuable solution on our hands. And, for the 45 credit unions who’ve already converted to the new program, the switch is already beginning to “pay off” in just the short time they’ve been on the program. READ MORE + |
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60 certifications earned during Corporate One’s “Harvest Your Learning” promo
Corporate One recently wrapped up its second Training Certification Program promotion of the year, “Harvest Your Learning,” which ran from October 1-November 30. We are proud to say the promotion was another success, with 47 employees from 10 credit unions completing a record 60 certification levels. READ MORE + |
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Reminder: Town Hall events in January
Click here to register >
President/CEO Lee Butke and members of Corporate One’s senior management team will be hosting a series of Town Hall events in January to discuss the latest corporate credit union regulation changes. They will also review Corporate One's capitalization plans, the process for recommitting existing capital to the newly designated NCUA-approved capital instruments, and capitalization requirements for new members. READ MORE + |
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| Industry News |
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New Fed Study Reveals More Than 75% of Noncash Payments are Electronic
EPCOR News, December 2010
The Federal Reserve's 2010 study of noncash payments recently revealed that more than three-quarters of all U.S. noncash payments were made electronically in 2009, a 9.3 percent annual increase since the Federal Reserve's last study in 2007. READ MORE + |
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Treasury eliminating usage of paper checks for federal payments
The U.S. Treasury recently issued a new rule that will phase out the use of paper checks for federal benefit payments. Such a rule will save the Social Security Administration alone $1 billion. The final rule will first impact those applying for benefits on or after May 1, 2011, who will be required to receive their payments electronically. READ MORE + |
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NEW MEMBERS
joining Corporate One
in December |
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Empire State CU
Spring Valley, NY
Indianapolis
Post Office CU
Indianapolis,IN
CUSA FCU
Covington, LA
Independent FCU
Anderson, IN
Wufface FCU
Richmond, IN |
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KEY RATES
as of 12/30/10 |
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Prime
One-Month LIBOR
1Y Treasury Bills
Fed Target Rate
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3.25%
0.26%
0.27%
0-0.25% |
| Fed Funds Plus Average |
Partners
Associate |
0.19%
0.11% |
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CORPORATE ONE
Unaudited November
Financial Statements |
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VIEW |
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MARKET COMMENTARY
for the month of December |
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Towards the end of the Great Recession, Fed chairman Bernanke noted that he detected “green shoots” sprouting through the quicksand that would eventually lead to a recovery. That observation, made in March 2009, turned out to be prescient, as the downturn ended a short three months later. But while Bernanke may have been pleased with his forecasting prowess, it is unlikely that he envisioned how much additional monetary aid would be needed to sustain the recovery.
Recall that the Fed provided an astonishing amount of support to help nurture those green shoots, putting into effect a $1.7 trillion program of asset purchases...
+ READ MORE |
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Upcoming Events
Corporate One Town Hall Meetings
| Columbus, OH |
January 5, 2011 |
1:00PM - 3:30PM |
| Columbus, OH |
January 6, 2011 |
9:00AM - 11:30AM |
| Lexington, KY |
January 10, 2011 |
1:00PM - 3:30PM |
| Cincinnati, OH |
January 11, 2011 |
1:00PM - 3:30PM |
| Toledo, OH |
January 12, 2011 |
9:00AM - 11:30AM |
| Cleveland, OH |
January 13, 2011 |
9:00AM - 11:30AM |
| Charleston, WV |
January 13, 2011 |
9:30AM - 12:00PM |
| Cleveland, OH |
January 13, 2011 |
1:00PM - 3:30PM |
| Indianapolis, IN |
January 18, 2011 |
9:00AM - 11:30AM |
| Indianapolis, IN |
January 18, 2011 |
1:00PM - 3:30PM |
| Naperville, IL |
January 19, 2011 |
9:00AM - 11:30AM |
| Buffalo, NY |
January 19, 2011 |
1:00PM - 3:30PM |
| Ft. Wayne, IN |
January 20, 2011 |
9:00AM - 11:30AM |
| Pittsburgh, PA |
January 20, 2011 |
9:30AM - 12:00PM |
Corporate One will be closed Monday, January 17th
in observance of Martin Luther King, Jr. Day. |
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